International insurance broker Hub has announced that it has acquired Massachusetts-based IBG Financial Partners. Terms of the transaction were not disclosed.

IGB is a team of retirement plan consultants that provide fiduciary and retirement plan consulting services to plan sponsor clients. They provide advisory support in the areas of investment, plan design and administration. As of December 31, IBG managed approximately $1.6 billion in assets.

Read more: Hub scoops up Ohio agency

Peter Vacheron, principal of IBG, and the IBG team, will join Hub Retirement and Private Wealth in New England.

The acquisition strengthens Hub’s retirement and wealth management services (Hub RPW). Hub RPW helps plan sponsors create offerings that align with their business strategy, navigate fiduciary risks and helps employees pursue their financial goals. Hub RPW provides services to clients whose total assets are approximately $93 billion.